State run hydropower utility NHPC to raise Rs 2,000 crore by March

State utility hydropower NHPC Ltd plans to raise Rs 2,000 crore debt in March, which aims to increase capacity, a senior executive said on Wednesday.

The company will increase Rs 500 crore in domestic bonds in September and the rest at the end of the current year, President ABL Srivastava.

NHPC, the largest hydroelectric power generator in India, plans to add 723 megawatts in March to raise its capacity of 6,000 MW.

The company has invested capital of about Rs 5,000 crore in 2011/12 compared to Rs 3800 years previous fiscal, when added 120 megawatts.

NHPC hopes to overcome the production target for FY12 generated 18.5 billion hours kilowatt (bkwh) of power, the "good monsoon," said Srivastava.

The monsoon rains, which provide 75-90% of India's total rainfall and replenish the water reservoirs that helps generate hydroelectric energy, 6% lower than normal between June 1 and August 3, the time government office said last week.

Water tanks in India were at 49% capacity of August 4, over 35% a year, increasing the prospects of hydropower generation represents a quarter of the country's generating capacity.

Earlier in the day, NHPC an increase of 47% in April-June profit at Rs 791 crore in the capacity of new and good rains. Sales rose 40% to Rs 1.431 million rupees.

"[The increase in benefits] was due in part to the addition of a plant that did not run last year and also due to good monsoon," said Srivastava.